Shares of Garmin Ltd. (GRMN) Sees Large Outflow of Money

Garmin Ltd. (GRMN) : The total money flow in Garmin Ltd. (GRMN) was negative ($0.99 million), showing the domination of sellers in the Tuesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $1.13 million. Transactions on upticks were comparatively lower at $0.14 million. The uptick to downtick ratio was 0.12. The total block trades on downticks were valued at $0.98 million. The money flow during block trades was negative ($0.98 million) when the stock traded with a gain of $19 cent. Garmin Ltd. (GRMN) was $50.36, an increase of 0.38% over the previous days close.


Also, Goldman Sachs downgrades its rating on Garmin Ltd. (NASDAQ:GRMN). The global brokerage major maintains a current price target of $12 per share. Analysts at the Goldman Sachs have a current rating of Sell on the shares. The shares were previously rated Neutral. The rating by the firm was issued on August 24, 2016.

Garmin Ltd. has lost 8.11% in the last five trading days and dropped 11.53% in the last 4 weeks. Garmin Ltd. is up 17.99% in the last 3-month period. Year-to-Date the stock performance stands at 36.06%.

Garmin Ltd. (NASDAQ:GRMN): The stock opened at $50.16 on Tuesday but the bulls could not build on the opening and the stock topped out at $50.47 for the day. The stock traded down to $49.23 during the day, due to lack of any buying support eventually closed down at $49.32 with a loss of -1.69% for the day. The stock had closed at $50.17 on the previous day. The total traded volume was 1,280,150 shares.

In a related news, Biddlecombe Sean, officer (Managing Director, EMEA) of Garmin Ltd, unloaded 425 shares at an average price of $54.52 on August 17, 2016. The total amount of the transaction was worth $23,171, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Garmin Ltd. (Garmin) is a provider of navigation, communications and information devices, which are enabled by Global Positioning System (GPS) technology. The Company operates through five business segments: marine, outdoor, fitness, automotive/mobile, and aviation markets. It designs, develops, manufactures, markets and distributes a family of hand-held, wearable, portable and fixed-mount GPS-enabled products and other navigation, communications, sensor-based and information products. It offers a range of automotive navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers a range of products designed for use in outdoor activities. It offers a range of products designed for use in fitness and activity tracking. Garmin offers a range of products designed for use in the recreational marine industry. Garmins aviation product line includes GPS-enabled navigation, and electronic flight instrumentation systems (EFIS), among others.

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